Publication - Notes for Guidance

Notes for Guidance - Bankruptcy (Scotland) Act 2016 (as amended)

First published: 1 November 2021
Last updated: 18 April 2024 - see all updates
Topic: Bankruptcy

This guidance describes the general functions of Accountant in Bankruptcy, interim trustees, trustees and commissioners in relation to their responsibilities regarding bankruptcies which started on or after 30 November 2016.

Supporting documents

10.4 Unrealisable assets vested in trustee

While the trustee remains in office they must make arrangements as necessary to safeguard their interests in any asset.

The trustee should:

remind the debtor the interest remains vested in the trustee
in advance of the earliest possible payment date remind the holder of the asset of the trustee’s right to it

The Accountant will not grant a certificate of discharge to a trustee who remains vested in estate of potential substantial value.

First published: Monday, 1 November 2021
Last updated: Thursday, 18 April 2024 - show all updates
All updates: Thursday, 18 April 2024
Supporting document added to website

Monday, 29 January 2024
Published on website

Saturday, 1 October 2022
Amended sections 2.2, 12.7.2, 12.8.2, 13.6, 13.9, 13.12, 13.13, 13.14, 16.5, 18.5.1

Monday, 1 November 2021
Published

There is a problem

Thanks for your feedback

Was this helpful?

Yes

Your comments

Your feedback helps us to improve this website. Do not give any personal information because we cannot reply to you directly.

Choose a reason for your feedback

Your comments

Your feedback helps us to improve this website. Do not give any personal information because we cannot reply to you directly.

Yes, but

Choose a reason for your feedback

Your comments

Your feedback helps us to improve this website. Do not give any personal information because we cannot reply to you directly.

Information

10.4 Unrealisable assets vested in trustee

There is a problem